secwatch.observer — SEC 8-K summary
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Issuer:     Creative Media & Community Trust Corp (CMCT)
CIK:        0000908311
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0000908311-23-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CMCT Q1 net loss $12.7M; acquires 696 multifamily units, redeems Series L Preferred
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- Net loss attributable to common stockholders of $12.7M ($0.56 per diluted share), up from $2.8M loss in Q1 2022.
- FFO $(4.8)M, or $(0.21) per share; Core FFO $(1.3)M, or $(0.06) per share.
- Acquired two multifamily buildings in Oakland (621 units) for $282.9M; invested $6.6M in Echo Park JV.
- Redeemed all Series L Preferred Stock for $83.8M; issued Series A1 preferred net $23.6M; completed SBA loan securitization net $43.3M.
- Same-store office occupancy 80.9% (down 370bps); leased 83.6% (down 330bps); executed 43,887 sq ft of leases.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908311/000090831123000029/0000908311-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908311/000090831123000029/cmct-20230502.htm
  HTML page:      https://secwatch.observer/filing/0000908311-23-000029

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